Category: Infrastructure

State minister Hardeep Singh Puri, speaks about 1.20 crore job creation under PMAY-Urban.

December 28, 2019

On December 27, Hardeep Singh Puri, State Minister for Housing & Urban Affairs said that approximately 1.20 crore jobs have so far been generated under PMAY-Urban through forward and backward linkages to around 250 auxiliary industries including steel, brick kilns, cement, paint, hardware, sanitary etc. According to investments made within the scheme about 568 lakh […]

State minister Hardeep Singh Puri, speaks about 1.20 crore job creation under PMAY-Urban.more

PMRDA to revise the metro project route to evade flyover clash.

Pune Metropolitan Region Development Authority (PMRDA) has revised the route of the third phase of the metro project to avoid a collision with the flyover of the University Circle. The 23-km route will link the busy IT Park Hinjewadi to Shivajinagar. In the previous plans, the Metro would converge the flyover, which prompted either to […]

PMRDA to revise the metro project route to evade flyover clash.more

ICRA Report: Construction Industry to see an uptrend in new order inflows.

December 26, 2019

With a growing number of projects in the infrastructure market, new order inflows for the construction companies will increase in 2020, rating agency Icra said on Tuesday. Nevertheless, Icra has given a positive view for the construction sector, noting that land acquisition delays, financial issues and state government preferences pose a threat to new order […]

ICRA Report: Construction Industry to see an uptrend in new order inflows.more

State Government to soon unite housing bodies to speed up affordable housing projects.

The Maharashtra Government plans to bring the various agencies responsible for affordable housing schemes under a single umbrella. Sources indicate that the Government is considering bringing the Slum Rehabilitation Authority (SRA), Maharashtra Housing and Area Development Authority (MHADA) and others to urban development services in order to streamline and speed up affordable housing projects. While […]

State Government to soon unite housing bodies to speed up affordable housing projects.more

Maharashtra RERA Rules in Place to Protect Homebuyers from May 1

MahaRERA issued recovery warrants of Rs 24 crore against Nirmal Developers.

December 24, 2019

Nearly 10 months after MahaRERA issued Rs 24 Crore recovery warrants against Nirmal Developers after they failed to repay 80 home buyers in Mulund for Nirmal Olympia project, the buyers’ money have yet to be refunded. Homebuyers are now stuck in the blame for the recovery battle between Tehsil officials (who conduct the recovery process) […]

MahaRERA issued recovery warrants of Rs 24 crore against Nirmal Developers.more

Birla Estates introduces Whatsapp AI chatbot LIDEA to provide an interactive solution to its customers.

December 23, 2019

Recently Birla Estates released its WhatsApp interactive AI-Enabled ChatBot solution LIDEA. The solution is intended to provide consumers who assess Birla Estates’ residential development with information on their projects, says the company. LIDEA is designed to provide accurate information and to answer questions regarding the development and initial work of Birla Estates with its Bengaluru […]

Birla Estates introduces Whatsapp AI chatbot LIDEA to provide an interactive solution to its customers.more

MMR realty stands at $8.7 billion under loan severe stress, that is 25% of the total loan advances.

About $8.7 billion, which constitutes 25%, is under severe strain at the moment from the sum of $35 billion loan advances offered to developers within the Mumbai Metropolitan Region (MMR). The ANAROCK property consultancy study showed that this is around twice the total loan stress in the National Capital Region (NCR) of $4.3 billion. The […]

MMR realty stands at $8.7 billion under loan severe stress, that is 25% of the total loan advances.more

PMC is going to carry lottery for more than 2,00 PMAY houses in January.

December 20, 2019

In January, the Pune Municipal Corporation (PMC) will conduct a lottery under Pradhan Mantri Aawas Yojana to allot some 2,200 homes. It would be the first lottery for homes under this scheme in areas such as Vadgaon, Hadapsar and Kharadi, by Pune Municipal Corporation (PMC). “The municipal government has completed the construction authorization process. Several […]

PMC is going to carry lottery for more than 2,00 PMAY houses in January.more

Forensic auditors assigned by SC found Rs 5,000 crore diverted funds by Unitech real estate developer.

December 19, 2019

When forensic auditors found theft of funds, the Supreme Court ordered the government to take over control of the Unitech real estate developer. “The auditors reported that at least Rs 5,000 crore of funds received from home buyers were not used to building projects,” said Pawan Shree Agarwal, amicus curiae on the subject, on Wednesday. […]

Forensic auditors assigned by SC found Rs 5,000 crore diverted funds by Unitech real estate developer.more

Housing ICRA predicts overall real estate inventory to decrease by 40-60%.

The price difference between under-construction and ready-to-move homes decreases to 3-7%.

December 18, 2019

According to property consultancy firm Anarock, in 2019, the price gap between ready-to-move-in (RTM) and under-construction (UC) homes has fallen to mere 3–7% in the top seven cities. There is a decline in the price differential between the two categories year on year. The difference in 2018 was around 5-9%, but in 2017 it was […]

The price difference between under-construction and ready-to-move homes decreases to 3-7%.more